TEK Tower (30 Francis) | 45 fl | U/C

[Square]

Probably the last* IN8 Development for awhile. (*Downtown Kitchener Condos)

What makes you say that? Because sales have been so slow for condos lately? I believe they have both 88 queen and 24 charles in the books for the future. Both towers are 40+ storeys, I could see them trying to gauge the market on one of the towers. 

Developers have kind of painted themselves into a corner with condos' in Ontario/ Canada. The prices raised so quickly in the 2010's that investor expected that party to continue, but there is not much room for growth when Developers charge 500-600+k for a small one bedroom. Its also next to impossible for small investors justify the purchase, as they can't rent it out at break even with the current cost of carrying a mortgage. Then you have people that might actually want to buy to live in, they are see how difficult it is to sell existing stock, so why take a risk on a new build.  I think we are headed to a lost decade of condo construction. I can see purpose built rental construction to continue at its current pace though.

Yes, because of the state of condos right now.  Also like MomentumDevelopments, they built so many buildings and now nothing for years. (They also have the Queen St. building upcoming, but will it ever get built?)  Then Vanmar had the King St. building and the Duke St. towers listed as upcoming, now they are not listed as upcoming.

[Square]

Probably the last* IN8 Development for awhile. (*Downtown Kitchener Condos)

IN8 has slowed down but they definitely haven't stopped. They broke ground on a condo in Hamilton late last year, early this year and still have a couple floors worth of units to sell, so it isn’t crazy to think they could do the same on any of their othef projects. You also have to remember that IN8 has applied for permits at 88 Queen, it doesn't mean its imminent but it certainly indicates that it's their next project.


Kitchener is also still selling condos, yes its much slower than before but it is happen. Momentum has a couple sold out floor plans in Q Condos the last time I checked, VanMar launched Station Park D (Platform) so they obviously think they can sell. Sure neither of them are going to start in 2025 but 2026 is definitely a possibility.

Yes, I guess I should have put an asterisk beside awhile also, Lol  The 88 Queen St. building had a demolition order pasted on the building 2 years ago this coming fall.  Just don't think they are in a hurry to build.

[ac3r]

If I remember correctly, IN8 also bought the old Club Abstract location as well. That probably won't get touched for a long time though. And while IN8 isn't great, at least they're not as bad as Vive.

[ZEBuilder]

If I remember correctly, IN8 also bought the old Club Abstract location as well. That probably won't get touched for a long time though. And while IN8 isn't great, at least they're not as bad as Vive.

The old Club Abstract land is owned by HIP (Strata, Bright Building, Gaslight District), they have agreements to buy the properties along Walter as well. They've been looking at putting two buildings around the 30 floor range on the site.

[Square]

Is this development only 44 storeys? All the googled news items show 44 storeys, and the work started on the 45th floor looks different then the rest. Mechanical room?

[CuilTard]

Is this development only 44 storeys?  All the googled news items show 44 storeys, and the work started on the 45th floor looks different then the rest.  Mechanical room?

Hmm. SRM's site says 45...

"Once completed, the 45-storey TEK Tower Condominium will be located at the corner of Charles and Francis Street in the heart of Kitchener's innovation district."

https://www.srmarchitects.ca/projects/te...20district.

[ZEBuilder]

The building permit is for 45 floors. I counted when I went by last week and they had forms started for the 45th floor, unless they all of a sudden change there mind.

Another thing to remember was the 45th floor was a very last minute thing to get council approval (another floor for more community benefits). So some of the marketing material on other websites may be slightly misleading.

[CuilTard]

The building permit is for 45 floors. I counted when I went by last week and they had forms started for the 45th floor, unless they all of a sudden change there mind.

Another thing to remember was the 45th floor was a very last minute thing to get council approval (another floor for more community benefits). So some of the marketing material on other websites may be slightly misleading.

Good points. The 45th floor does indeed look different in some renders (and it might imply 44 is the top floor you can live on?) on tek's "views" page:



- https://tektower.ca/pictures/

[Momo26]

Will be curious to see the final product. What kind of amenity space will they have?

[ZEBuilder]

The building permit is for 45 floors. I counted when I went by last week and they had forms started for the 45th floor, unless they all of a sudden change there mind.

Another thing to remember was the 45th floor was a very last minute thing to get council approval (another floor for more community benefits). So some of the marketing material on other websites may be slightly misleading.

Good points. The 45th floor does indeed look different in some renders (and it might imply 44 is the top floor you can live on?) on tek's "views" page:

Generally municipalities will only include floors where there space fit for human occupancy. Hence mechanical penthouses aren't ever included in floor count but floors which are half amenity half mechanical are, obviously there are some exceptions but this is too standard of a building to have any. So given the permit says 45 it's in all likelihood going to be 45 floors, the only potential thing that might make it appear as 44 and not 45 from the exterior is if there is a mezzanine. That's why Vive's CTV development got a bump of one floor because the parking mezzanine was included after the city looked at it. By the end of this week it should be fairly obvious if it's 45 or not given there were forms there on Thursday.

[ZEBuilder]

Will be curious to see the final product. What kind of amenity space will they have?

The podium will have a terrace, there is also a permit application for a sauna. Ground floor facing Francis will also have amenity space.

[CuilTard]

Good points. The 45th floor does indeed look different in some renders (and it might imply 44 is the top floor you can live on?) on tek's "views" page:

Generally municipalities will only include floors where there space fit for human occupancy. Hence mechanical penthouses aren't ever included in floor count but floors which are half amenity half mechanical are, obviously there are some exceptions but this is too standard of a building to have any. So given the permit says 45 it's in all likelihood going to be 45 floors, the only potential thing that might make it appear as 44 and not 45 from the exterior is if there is a mezzanine. That's why Vive's CTV development got a bump of one floor because the parking mezzanine was included after the city looked at it. By the end of this week it should be fairly obvious if it's 45 or not given there were forms there on Thursday.

So everyone can count along from home:

[Square]

Everybody was right, it is 45 floors. Just the way they started the 45th floor was different then all the others.

[CP42]

[Momo26]

Very cool! Let's goo!